David Greenspan’s Slate Path Capital is Buying These 5 Stocks

1. Stitch Fix, Inc. (NASDAQ:SFIX)

Slate Path Capital’s Stake Value: $152.8 million

Percentage of Slate Path Capital’s 13F Portfolio: 8.53%

Number of Hedge Fund Holders: 35

As of the second quarter, 35 hedge funds out of the 873 funds tracked by Insider Monkey held stakes in Stitch Fix, Inc. (NASDAQ:SFIX) worth $703 million versus 28 hedge funds with $466 million worth of stakes in the previous quarter.

In the Q2 2021 investor letter of RGA Investment Advisors, the fund mentioned Stitch Fix, Inc. (NASDAQ: SFIX). Here is what the fund has to say about the firm:

“We purchased a new position–Stitch Fix–which is attacking this problem of abundance and the friction of shopping digitally head on with curation and personalization.

Your Own Personal Clothing Store

Stitch Fix is incredibly interesting. Founded by Katrina Lake in 2011, Stitch Fix turned apparel shopping into a delightfully personalized, subscription-based platform. The company collects numerous data points when onboarding a customer from the generics and quirks of each individual’s size and shape to tastes in designers, colors and styles. This empowers the company’s stylists to curate a “fix” with five clothing items on a periodic cadence (monthly, quarterly, semi-annually, etc.) of the customer’s choosing. A box arrives with its contents formerly unseen by the customer, with the constant being each item is already a known fit based on the size and shape of the customer’s body type and the trove of data Stitch Fix has on other “look alikes” across their customer base. Of the 5 items, a customer can keep all or none, but they must pay $20 irrespective of whether they keep anything. After reviewing the items, a customer can keep all items (for which they would get a 25% keep five discount) or return some items and checkout online to
pay full price…” (Click here to see the full text)

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